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MONTREAL, Aug. 21 /CNW Telbec/ - Laurentian Bank of Canada today
announced that it is supporting the "Montreal agreement" of August 16, 2007
where major players in Canada's financial markets agreed to work out a
solution to the liquidity problem facing the third party structured finance
asset-backed commercial paper (ABCP) market. Furthermore, Laurentian Bank,
through Laurentian Bank Securities, is working with the other signatories of
the agreement to encourage all holders of third party ABCP to support the
agreement.
Laurentian Bank and its subsidiaries have a limited exposure to the
conduits covered by this agreement. The aggregate of all securities issued by
these conduits and held by the Bank is approximately $20M. The bank is not a
liquidity provider for any bank or non-bank sponsored conduit.
Finally, no retail client of Laurentian Bank or Laurentian Bank
Securities owns, with the institution, paper issued by these conduits.
About Laurentian Bank
Laurentian Bank of Canada, is a Quebec banking institution operating
across Canada dedicated to meeting the financial needs of its clients through
excellence in service, as well as through its simplicity and proximity. The
Bank serves individual consumers, small and medium-sized businesses as well as
financial advisors through B2B Trust. It also provides full-service brokerage
solutions through its Laurentian Bank Securities subsidiary. Laurentian Bank
is well established in the Province of Quebec, operating the third largest
retail branch network and is a performing player in specific market segments
elsewhere in the country. Laurentian Bank of Canada has over $17 billion in
balance sheet assets and $15 billion in assets under administration. Founded
in 1846, the Bank employs 3,300 people. Its common shares are listed on the
Toronto Stock Exchange (TSX: LB). For more information, please visit
www.laurentianbank.ca.